dogwifhat Price Stays Firm at $0.75, Eyeing a Bullish Turn
Dogwifhat (WIF) has been holding steady at $0.75, showing strength in a volatile market. This support level has been tested multiple times but remains intact. Buyers are actively defending this price, hinting at a possible bullish shift.
Several technical factors point to a potential bullish reversal. The $0.75 level aligns with key Fibonacci retracement and demand zones. This confluence strengthens the case for a meaningful turning point.
Here are the key technical points:
- major Support Zone: $0.75 matches the 0.618 fibonacci retracement and a value area low.
- Structural Confluence: Bollinger Bands and ancient demand zones overlap here.
- Upside Targets: Holding above $0.75 could lead to $1.00, then $1.40.
The Bollinger Bands are compressing, signaling reduced volatility. This often precedes a price breakout. If WIF closes consistently above $0.75 with increasing volume, it may confirm a new uptrend.
on higher time frames, the market structure looks promising. A potential higher low within the uptrend suggests WIF could be gearing up for another strong move. If support holds,it will set the stage for further gains.
Looking ahead, maintaining the $0.75 level increases the chances of an upward move. A sustained close above this zone could push prices toward $1.00, with a possible extension to $1.40. However, a daily close below $0.75 would signal a deeper correction.
